ED raids on Lyca. Top production house Lyca got a huge shock when ED officials conducted raids at its Chennai Office. Lyca recently bankrolled Mani Ratnam's dream project Ponniyin Selvan and is now bankrolling Shankar-Kamal Haasan's Indian 2.
Officials are conducting searches in 8 locations in the offices of Lyca at T.Nagar, Adayar, and Karpakkam in Chennai. ED is conducting raids and is searching related to the alleged FEMA violations from Lyca.
Lyca Productions was established by Subaskaran Allirajah in 2014. A subgroup of Lycamobile, the production studio has been involved in the production and distribution of films made in South India.
It is not clear how it impact Lyca Productions' future projects. Lyca Production is yet to come out with an official statement on the ED raids.
Lyca currently is producing Rajinikanth's daughter Aishwarya's Lal Salaam and earlier in Bollywood bankrolled Janhvi Kapoor's 'Good Luck Jerry' (2022) and Akshay Kumar's 'Ram Setu' (2022).